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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 18, 1971, Lethbridge, Alberta iafurdoy, Dictmber II, Wl UTHMIDOI HWAID 21 Loans increase IDB aids local business The Industrial Development ank, which has a branch in ethbridge, increased its busi-ess in all regions of the coun-7 during its 1971 fiscal year, e House of Commons has ccn told. Louis Rasminsky, governor the Bank of Canada and resident of IDE, said that at IB Sept. 30 year-end the bank jd million in bans oul-tanding or committed to usinesses compared with lillion to enterprises a ear earlier. Since the bank started 27 ears ago with four branches it as authorized loans lo-jlling billion to assist businesses in Canada. Business has increased larply in the last decade. The ank now lias 39 branches. The ,ethbridgc branch has been op-rating years. H is the third ranch in Alberta, the being In Edmonton and Calgary. The amount of outstanding and undisbursed loans to justnesses in Alberta at the ;ank's year-end was million. In its 1971 fiscal year the IDE approved 430 term loans lotaL'ing million to business enterprises in the province, up from 330 loans totalling million in the previous year. About half the loans made by IDE during the year were for amounts of or less and almost 80 per cent were for or less. While only 70 of the 4.449 loans approved were for amounts more than tire IDE in the past has granted loans as high as trillion. About half the loans made by the Lethbridge branch were to agriculture-oriented Tim Ching said In terview. Other businesses which have teived loans from the local DB include motels, retail ores, garages, restaurants, arehouses, trailer manufac-jrers and people who provide rvices such as chartered ac-ountante, doctors, lawyers, enlists for buildings and [uipment. The name Industrial De-elopment Bank is somewhat nis eading as it is not a bank the ordinary sense. It is ore of a mortgage institution. 'It is also considered a lender last resort. The IDE requires wtential borrowers to show lat they have tried to borrow om other conventional ources without success. Interest rates charged by DB are generally nine per for loans up to per cent for loans up to and 10 per cent for oans more than The IDE was set up to assist mall to medium-sized Cana-ian businesses. It does not rovide residential loans, loans o private clubs or loans U) oth-r lenders. Central Mortgage and Housing Corporation is in the busi-ess of providing residential oans and the Farm: Credit Cor-joration assists fanners with oans up to so IDE lays out of those fields, Mr. Ching said. IDE does, however, assist armers who require more han the FCC limit. The TDB will look at loan re-uests from to severa million. Terms of the loan ange from three to 15 years epending on the earning of the business and type 0 security offered. Terms coul( te longer for good buildings and land, for example, than for ecured equipment. The Lethbridge IDB branch with a staff of eight, covers all of southern Alberta from Township 13. a line from Claresholm and Medicine Hat south to the Canada-U.S. bbrder. The local IDB is located In the Professional Building, adjacent to the post office. Two-thirds of the loans provided through the local branch are approved locally. It may ;ake two days to several months to have a loan approved although the "average" time is 20 by STOP a EDMONTON (CP) Strip-mining for coal should be pro-libited for at least 15 years in mlf the coal-bearing areas of Alberta's foothills, two environmental groups said here. The two groups, STOP (Save Tomorrow Oppose Pollution) of Edmonton and SPEC (Society for Pollugion and Environmental Control) of Calgary, made the suggestion in a joint brief to the government's environmental authority. The brief, written by Dr. .T. W. Keer a Calgary geologist, suggests that all-coal vearing areas in the foothills and Rocky Mountains be divided into two areas of equal size. Strip mining would be allowed in one area, starting immediately, hut would be prohibited in the other area for 15 years. The areas where mining would be permitted immediately would include those which ore readily accessible, and where there arc towns dependent upon mining for their survival. The reserve areas would be those less accessable, and not currently being mined. The brief suggests that at the end of the 15 years the province would be able to assess the effects of huge mining operations on their environment. Then, "intelligent decisions" could be made as to whether mining would, in fact, be allowed in the reserve areas. The brief states that the two groups would prefer a total bar on mountain strip mining, but ley realize that this is not possible. "We have been forced to compromise. We ask then tha lat exploitars please with us." It points to two mines in the Bond Supplied by Doberly loadhouse and McCuaig Bros. OF CANADA BONDS Sept. 1, '72 100.00 100.25 Oct. 1, '75 101.00 101.50 Jul. 1, '78 110.00 112.00 Sept. I, '83 87.00 87.50 >erp. 3 Sep. 15 41.00 43.00 Vi% Apr. 1, '75 103.50 104.50 ti% Jul. 1, '75 106.00 107.00 Sept. 1, '92 90.50 91.50 PROVINCIAL GOVERNMENT OF CANADA GUARANTEED BONDS Mberta '90 108.00 110.00 Ontario 7 '88 98.00 100.00 3nt Hyd 9 '94 107.00 110.00 Br '90 109.00 111.00 Vfld 8 "o '74 100.00 102.00 ST. S. '92 88.00 90.00 jiiebec '74 101.00 103.00 Mberta '90 109.00 111.00 Man Hyd 8 1 '91 102.00 104.00 5ask '90 110.00 112.00 Nfld '90 107.00 109.00 AGT 8 '74 104.00 106.00 tfan Tel 8 '74 104.00 106.00 INDUSTRIAL Alta G T '90 108.00 Alcan '91 108.00 110.00 B.C. For '92 106.00 B.C. Tel 9's'i '90 107.00 109.00 Bell Tel 914 '79 107.00 109.00 Bell Tel '93 109.00 112.00 CPR Bli'i '89 104.00 106.00 CF Sec '90 105.00 108.00 Cdn Util '91 104.00 10C.OO CWNG '90 105.00 108.00 Gulf Oil 8Va% '90 105.00 Inter P P '90 107.00 109.00 Noranda '90 107.00 109.00 Int Nickel 9'A% '90 107.00 109.00 N and C G 9K% '91 107.00 109.00 St. of Cdn '98 108.00 110.00 Tr Cdn P '90 108.00 110.00 Tr Cdn P 10% '90 110.00 112.00 CONVERTIBLES Alta G T 714% '90 125.00 129.00 Cons Gas 5V4% '89 94.00 96.00 Scur Kain '88 89.00 91.00 Tr Cdn P 5 '89 91.00 93.00 WC Tr C 5V4% '88 87.00 89.00 WC Trans '91 116.00 118.00 Dynasty 7 '82 70.00 75.00 Acklands 7V4% '88 83.00 study oil CHRISTCHUBCH, N.Z. (Reu-ter) _ Atout 200 pounds of rocks and soil from three valleys in Antarctica will be taken to the U.S. and examined by scientists working on the projec for an unmanned landing on Mars in 1976. The valleys compare closely with a typical Martian ByDor FROM I A 1 Dwarf 37 Bee: Brel-7 African 40 ifiereM capital WildDbeosie 12 Waves: Sp. A3 16 Fall from "5 Insincerity grace 51 I'lungei 21 Dally 57 "Ma Jolio" 22 Cheer 23 Haywonn 58 Wizard of 24 Blunder Oz lion 25 One of the 59 Pra18 Furies 60 Heavenly ATTEND Annual attendance at Canadian expositions, ranging from Man and His World through local home shows to highly technical trade shows, has passet the 10-million By Gene Fawcette THE MYSTERIOUS LOSSOFSUB MARINES IN RECENT YEARS, INCLUDING 1963, RESULTED FROM West p- onnounc Office Bill Joblonkay Real Estate, pleased to the appointment of William Joblonkay to their real estate work and invites his many to drop in and him II be very pleased to discuss oil estate needs. Selling or Buying? %estbar4 -328-1044 327-7159 Real STORMS! THIS IS Pet cry G2 Asterisks 28 Prefix for 64 Theme phobia 66 Electrical 29 Some- thing wicked 67 Fools do thisway 69 Wonder comes" (Mac- 70 Mohav8 72 Sewing tern 33 Wanders 73 Organic 34 C. Burnetfi compounds proB 75Kindoftes 35 Indian '6 weigM 78 CIA's 36 Existence supervisor 1 Thick slice 12 Gilded me 2 Consecrated 13 Gladly 3 Orange 14 Mijihlv Slate river particles 4 Irritate 15 Tom and 5 Type of maic family BELIEF OF SCIENTISTS WHO SAYTHE STORMS CAN BEASDANeEROUSAS ANY VIOLENT WEATHER TURBULENCE ON v GROUNDS SUPERVISOR The Medicine Hal School District No. 76 requires the services of a quolif ed man to assume complete responsibility for a year round grounds maintenance program. The successfu applicant will have training and experience in horticulture as well as experience with the maintenance and repair of grounds service equipment. This Is a permanent position offering an excellent starting salary and a full range of fringe benefits. Apply In confidence giving complete resume of experience and qualifications no later than January 14, 1972 to: E. MURRAY, Secretary-Treasurer, Medicine Hat School District No. 76, 601 First Avenue S.W. Medicine Hat, "JNTfKMt W4VCS" OFfffTMGtf, CAN DRAG j SUB DOWN TO mi DEPTHS TDBfCKUSHfPf SI. Jom., 51. W., 1 16. EDMONTON Stay At the RIVIERA THE HOTEL WITH MORE TO OFFER AND WE NOW HAV( COLORED TV For Your Convenience Prevailing daughter system 17 Harangue BWauqhand 18 College others dances gWheretha 19 Wends money is 20 Obliterate 1 0 Nautical 30 Proport o term 31 Eccentric 11 Youth 32 Adjusted Diagramless l ACROSS 1 Tie 23 K'nd o ca 5 fruit 24 Mascul nc 9 Fiimilv nickname member 25 Shot! drin 1? Belief 27 Compass 13 Or 1 point :abh 14 30 lops 16 31 Dandv 17 U S folk- 33 Woman lore etc. 34 Kind of w 19 Apiece 3b lota 20 Emanatinn 38 Rook nf Ifi -M Finish Rihle: abb soi.imoiss OF WEF.K-S IfflH GRANT MacEWAN COMMUNITY COLLEGE DIRECTOR OF APPLIED ARTS o Senior Academic Officer reporting directly to President, tho Director o trio Applied Arts Division is responsible for two year diploma programs for: Communication Arts, Early Childhood Development, Fashion Sales, Instructional Assistants, tibrary Technicians, Police Science, and Social Service Technicians. New programs nro also planned for Fall, 1972. The successful candidate will hove a minimum of AND ASK FOR LONG DISTANCE i ZEnith 0-7255 cl no cost to you MOTOR HOTEL 3359 Calgary Trail Edmonton, Alborta Phone: (403) 434-3431 Tolcx: industry, education or aovern nent nnd will hold a Degree, or equivalent. Salary will commensurate with experience and qualifications. Competition closes January 10, 1972. All replies, Including references, to be sent in strict confidence to: The Personnel Officer, Filo AAD10 Grant MacEwan Community College 10150-100 Street Edmonton, iiiiii. IB Dolhir plan spurs advance Crowsnest Pass, both aban- doned in the early 1950s by Vest Canadian Collieries, a French firm. Photographs aken 10 and 20 years after the mines closed show that the scars as bad as they were when he mines first shut down, It ivs. Dr. Kerr also says that min- ing companies are playing AI- xrta and British Columbia off gainst each other in the ques- .ion of reclamation. If one province threatens to get tough, the companies say they will 'op- erate only in the other. The result is that neither province has gone far enough and serious environmental damage could be left for future generations. The long range damage might in time be far greater than are the short- term economic benefits. The knowledge exists for strip mine reclamation in both mountain and paririe areas, the brief states. All that is needed is strict enforcement. Dividends By THE CANADIAN PRESS Canadian Imperial Bank of Commerce, 19 cents Feb. 1, record Dec. 31. Cockfield Brown and Co, Ltd., cents Dec. 30, record Dec. 21. G Tambl.yn Ltd., common 20 cents (plus extra of 25 cents) pfd. 50 cents, both Jan. S record Dec. 20. WARDS RENTALS By PETEH necond-largest volume of positions In ttii lector of Canadian I'resj SlaH with 3.57 million one analyst said. Issues showed little reac- An announcement by New York, the Dow to the news that the. U.S. United State's government that it is willing to devalue Its average of 30 key Dlue-chip stocks climbed devalue its ttollar by increasing the price It will pay for as part of a realignment to on the world bullion mar- world currencies was the major factor responsible for the strong advance on Canadian stock markets this week. Although the advance was not ae spectacular as in recent weeks stock prices continued to recover from record lows registered midway through the on Wall street was B9.32 million shares, up from B1.60 million last week. Western oils issues recorded the sharpest advance on Canadian markets. The Toronto ei-c h a n g e 's western oil index cosed Friday at 210.87, up The Toronto market'i gold Index fell .57 points to 14-1.81 liming the week. There was little news to guide nvestors hi the base metal seo-or of the market this week and jenerally prices traded within a narrow range. Another factor responsible for the advance was investor is. Analysts Raid much of the Toronto, the base metal Index closed at 74.75, up .71 ulation that the current was based on speculative buying on the part of on the week. cent extra duty on U.S. imports will soon be exploration Analysts said ttie market "now has a firm base are beginning their winter exploration programs and REALTY LTD. will support a steady recovery. Several observers said they are beginning to take pect the market's current f to extend into early The Toronto market's dustrial index, a major tor of market activity, gained 4.59 points during the week lo ing at 178.70, its best level Sept. McMURRAY (CP) At New York, prices Harry Gallagher, 30, higher erasing losses stifferec during UK previous week. McMurray yesterday wa committed for trial on a ing was attempted On the Montreal and Canadian exchanges, the was charged afte RCMP constable James index rose 5.27 points to was shot in the i Combined volume on the Oct. 16. His trial will f 1 exchanges was 6.09 during the next sitting shares compared with 5.0G mil-1 lion last Supreme At Toronto, trading continued active. During the week a ftl of 14.18 million shares changed hands, the fourth H. Smith week of the year and up from 10.44 million last (AL) MYCHASIW 1 Tuesday, the market Doug Hay, President oi HAY REALTY LTD. is pleased to the association of ft 1 i (Al) Mychasiw wrlh hit firm in CALGARYY as a salei con 0 Al spent 5 yean in wilh Firestone Slorei. many years in the lira business he is now in real He is an ac'ive member FOR tho Kinsmen Club and Efki Club. Ho will specialize in Phone 128-8141 IWZWM homes Between Lethbridge and Calgary BO don't UNITED to call collect should ho be able to bo of lervice to AND 79 Make an em- barrassing blunder 86-----pro nobis 87 Kind of soup: abbr, 88 Home of Aconcagua 89 Paces 90 Crosses: her. 92 Crowds Thrice: prct. 96 Snare again 100 Pilasterj T02 One of the Cydades 103 105 Fasten: naut. 106-----Nevada 108 Err 109 Set in order 110 Turpentine, for one 112 Clasp 114 Ignores: 116 Tally 117 Lively 119 Pick 120 Compass point: abbr 121 Cloister 125 Squat 127 Rubber raft 129 Soul: Lat. 131 Hoodwink 139 Similar 140 Evergreen shrub 141 Electrician 142-----Creed 143 Split oparf 144 Religious image 145 Related, maternally 146 Ruse 147 Sir Patrick Scotch hero 143 Letten 149 Took out 150 Golfers Sam and J.C. DOWN 37 Wall Street term 38 French soldier 39 Peruvian Indians 42-----attention 44 Go over 4G Cuts 47 Beatded theipian 48 Chela 49 March----- 50 Exclamations 52 Newspary notice 53 Folksinger- nctor 54 Hindu god 55 up tor a "hitch" 5G Hunt- 59 Bridga expert 63 Red newi agency 64 Ancient Egyptian city G5 Bieia'j 68 19x21, by Betty Leary ,T9 Yen Unadorned 41 Cuieal grain 42 Nmirjlitv 43 Scheduled 44 Atmy manl abbr, 45 Stup'rf 46 Cnoks 47 Shon sizi 48 Agos 49 Fininl topi 50 Damage 51 Your choice 52 One: Scot, 53 Charged particles 54 Journry BG Put away S? Draft 5R-----Noslrs 59 Henvunly prca 62 Arab cloak 64 Girl's nm 70 Stings 71 More dis- cerning 74 LEWS: Lat. 75 Threatens 77 Threaten 79-----feldspar 80 Aphrodite 81 Tenso 66 College ares 68 Wooden stiip 69 Inlets 71!! 75 Indian garment 76 Small nntch 77 RenMth 7R Josh 79 Visit 80 .Ipwish 82 Blacksmitt. 83Tearjerlcer 84 Relative of 7B-A 85 Belgian poi 91 Chnlcedonv 93 Dangeroui chance 94 Informed 4 problem f> Legume 6 Shade trett 7 On the occar R TV (are 9 Old coin m Man's nama 11 British frvMable) 95 Scottish uncles 97. Coty, 9B Endorses 99 Grey-blua 101 Formerly l03Sesama 104 Visit 107 Mess: 2 wds. 15 Seashon) structun 1G Nines 18 Hibernian group: abbr 22 Play 20 Copy 28 fosch product! 79 Decreei .32 Ordinal 109 Dogged 111 Encampment 113 Acid used in lacquer 114 Wainscot 115 Feied 118 Removes 122 Tiny Titn'i flower 123Mnrtinl ndjwict 124 Olefin: var. 132 Sawbuckj 133 Crow 134 Pertaining to sn BOO 135-----hcmo 12EJ Shecplikft oiitcnst: var. 'farwayVvar. 129 Rugged crcn 13? Bagnok 121Mincrali 33 Infant we- 35-----Bond 36 Mine producti 37 Kennedy or Mack 39 Sarcasm 40 Beach wea 41 42 Favor nnimali 45 Field 65 Asiatic trei 46 Thrash 67 50 Lartie animal 6S fountain 53 Japnnnse sppoiMiv statesman 70 Numerical 55 LiturtucM prrfix hook 71 Srximsh 56 Runs away queen 59 Mnlhuk 72 Prrt GO Bantu trine 73 Sine-----non 61 Home arens 74 Gnrmarv 63 Max conjunction CRYPTOGRAMS l.TOKGY WK TLL QGOIOGGOM FOYGWES SYKMU ARGWQOA RL P L G O ILGPTH RKBOML FLOE NU GODYBWES QOESKWK _ 2.SBGOEFOBA FORFEIT: Y B R 0 T F 7. QBGXGZ WELLGOAL OFY FTRDAnCBLORUG WTGGZ QITUX FOGG OF MUGGY U S U IF ----RvIndi.TM.Spf.Ty M G n 111. 1. Rome wakoful nlphts provide hours for constructive 0.inkinR and provr wrlr Most fltlr iiniLttinvnt I. MnT "mTcTivc divorce, invite. Kcoml lo her plush ;